GE plans sale of industrial solutions unit as it divests non-core assets

General Electric Co. is nearing a deal to sell its industrial solutions unit to Swiss engineering company ABB Ltd (ABBN.S) in a deal valued at $2.5 billion to $3 billion, according to Bloomberg reports, which cited internal sources close to the deal. The companies are likely to announce an agreement by next week, the report […]

Nigerian treasury bills oversubscribed 400% as investors bet on government, increased yield

Nigeria’s central bank Wednesday saw its fortnightly treasury bills auction oversubscribed 400 percent as total subscription outstripped the N140.9 billion it originally planned to raise by N418.1 billion. Actual subscription stood at N559 billion. However, the Central Bank of Nigeria could only allot bills worth N215.88 billion at the auction, which is N75 billion more […]

Nigeria’s debt office to sell N135bn bonds next week

Patience Oniha Director-General, Nigeria’s Debt Management Office (DMO)

Nigeria’s debt management office (DMO) Tuesday indicated its planned auction of N135 billion ($442 million) in bonds next week. The DMO is specifically planning to sell N35 billion of bonds due in 2021 and N50 billion each of bonds due in 2027 and in 2037, using a Dutch auction system. The settlement is expected two […]

Vietnam’s foreign currency lending skyrockets in 8 months

Vietnam’s lending in foreign currencies grew 11.5 percent in the first eight months of this year, 6.7 fold higher than the same period last year. Meanwhile, lending in Vietnamese dong (VND) grew 11 percent, according to the country’s National Financial Supervision Commission on Tuesday. Local experts attributed the significant growth in foreign currency credit to […]

South Africa’s Pravin Gordhan slams auditing firm, KPMG over tax report

Pravin Gordhan in Pretoria, South Africa,

Pravin Gordhan, who was ousted from his post as South Africa’s finance minister in March, slammed KPMG LLP after it withdrew the findings of a report on the country’s tax agency that was used as evidence in a police probe against him and led to the removal of senior staff. According to Bloomberg, the auditing firm said on Friday […]

European tax on digital giants faces resistance led by Ireland

France’s campaign to institute a new levy for digital companies such as Amazon.com Inc. and Facebook Inc. ran into early difficulties as the European Union seeks to align its tax policy with more modern and technologically focused businesses. French Finance Minister Bruno Le Maire told colleagues at a meeting in Tallinn, Estonia, that the bloc […]

Alphabet talks with Lyft about possible investment, source reveals

Google

Alphabet Inc. is in discussions with Lyft Inc. about a possible investment in the ride-hailing company, potentially deepening an existing partnership between the two firms, a person familiar with the talks said on Thursday. According to Reuters, an injection of support from one of Silicon Valley’s largest companies could be a boost to Lyft as […]

China, India best bets for green investors, Morgan Stanley says

Emerging markets including China and India could be the best bets for investors hoping to fight climate change and boost returns, according to a report Thursday. If the planet heats up by 5 degrees Celsius (9 degrees Fahrenheit), well above the 2-degree threshold set by the Paris Accord, investors may face $7 trillion in global […]